florida laws and rules
According to Florida law, an additional notice must be issued after the
standard grace period has expired for policyowners age correct answers64
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond correct answers6 months
Which of the following employer tasks does a Professional Employer
Organization normally handle? correct answersAdministration tasks
Which of the following is an example of an Unfair Trade
Practice? correct answerscoercion
Which two entities regulate variable annuities? correct answersDepartment
of Financial Services; and Securities Exchange Commission
Which of the following is NOT required in the Outline of Coverage for a health
insurance policy? correct answersProjection of the policy's future costs
Which action could result in a hearing being ordered by the Department
of Financial Services? correct answersPerforming insurance transactions
without a license
All of these are a prerequisite for becoming a licensed agent
EXCEPT correct answersto graduate from high school
W gave W's age as 50 when W purchased a Life policy. At the time of W's
death seven years later, the company discovered W's true age at issue had
been 59. What would the normal procedure be under the misstatement of
age provision in regard to the payment of the death claim? correct
answersThe proceeds would be reduced based on whatever the premium
would have been if purchased at age 59
In Florida, the underwriting and issuance of a master group health policy
requires that all employees correct answersare eligible to participate,
regardless of their individual health history
Which of the following is NOT a consequence for placing business with an
unauthorized insurer? correct answersFirst degree misdemeanor
According to Florida, which of the following situations would a dependent
handicapped child NOT be covered under a Family Health Policy? correct
answersThe premiums are not paid
, When replacing or exchanging an annuity, the agent must disclose to
the annuitant correct answersthe possible tax ramifications as a result of
the transaction
Florida's 14-day free-look period for life insurance policies begins at
the correct answersDate of delivery
Which of the following situations are NOt subject to Florida life insurance
laws? correct answersInsurance companies' day-to-day operations
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contract? correct answersStock
company owned by shareholders and mutual company owned by policy
owners
T is an employee covered under a Group Life policy. If T's employment is
terminated, the conversion privilege gives T the right to convert correct
answersto an individual policy upon employment termination
An example of an unfair claims practice would be correct answersfailing to
effectuate prompt, fair, and equitable settlements of a claim
Within how many days after policy delivery can a Medicare
Supplement policy be returned for a 100% premium refund? correct
answers30
Which of the following documents must an agent submit to the replacing
insurance company during the replacement of an existing life insurance?
correct answersNotice to existing and replacing insurer of intention to
replace
The coordination of benefits (COB) provisions exists in order to correct
answersAvoid duplication of benefit pyments
Agents that have been licensed for less than six years must complete
hours
of continuing education every two years. correct answers24
Association Plans that are designed to provide health benefits to their
members are regulated by the state because
*they are insured by an authorized insurer
*they conduct business in Florida
*they provide a service to their members
*they require a certain level of member participation correct answers*they
are insured by an authorized insurer
(Association Plans must be fully insured by an authorized insurer. The
insurer is subject to state regulation.)
According to Florida law, an additional notice must be issued after the
standard grace period has expired for policyowners age correct answers64
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond correct answers6 months
Which of the following employer tasks does a Professional Employer
Organization normally handle? correct answersAdministration tasks
Which of the following is an example of an Unfair Trade
Practice? correct answerscoercion
Which two entities regulate variable annuities? correct answersDepartment
of Financial Services; and Securities Exchange Commission
Which of the following is NOT required in the Outline of Coverage for a health
insurance policy? correct answersProjection of the policy's future costs
Which action could result in a hearing being ordered by the Department
of Financial Services? correct answersPerforming insurance transactions
without a license
All of these are a prerequisite for becoming a licensed agent
EXCEPT correct answersto graduate from high school
W gave W's age as 50 when W purchased a Life policy. At the time of W's
death seven years later, the company discovered W's true age at issue had
been 59. What would the normal procedure be under the misstatement of
age provision in regard to the payment of the death claim? correct
answersThe proceeds would be reduced based on whatever the premium
would have been if purchased at age 59
In Florida, the underwriting and issuance of a master group health policy
requires that all employees correct answersare eligible to participate,
regardless of their individual health history
Which of the following is NOT a consequence for placing business with an
unauthorized insurer? correct answersFirst degree misdemeanor
According to Florida, which of the following situations would a dependent
handicapped child NOT be covered under a Family Health Policy? correct
answersThe premiums are not paid
, When replacing or exchanging an annuity, the agent must disclose to
the annuitant correct answersthe possible tax ramifications as a result of
the transaction
Florida's 14-day free-look period for life insurance policies begins at
the correct answersDate of delivery
Which of the following situations are NOt subject to Florida life insurance
laws? correct answersInsurance companies' day-to-day operations
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contract? correct answersStock
company owned by shareholders and mutual company owned by policy
owners
T is an employee covered under a Group Life policy. If T's employment is
terminated, the conversion privilege gives T the right to convert correct
answersto an individual policy upon employment termination
An example of an unfair claims practice would be correct answersfailing to
effectuate prompt, fair, and equitable settlements of a claim
Within how many days after policy delivery can a Medicare
Supplement policy be returned for a 100% premium refund? correct
answers30
Which of the following documents must an agent submit to the replacing
insurance company during the replacement of an existing life insurance?
correct answersNotice to existing and replacing insurer of intention to
replace
The coordination of benefits (COB) provisions exists in order to correct
answersAvoid duplication of benefit pyments
Agents that have been licensed for less than six years must complete
hours
of continuing education every two years. correct answers24
Association Plans that are designed to provide health benefits to their
members are regulated by the state because
*they are insured by an authorized insurer
*they conduct business in Florida
*they provide a service to their members
*they require a certain level of member participation correct answers*they
are insured by an authorized insurer
(Association Plans must be fully insured by an authorized insurer. The
insurer is subject to state regulation.)
